Initial unemployment claims dropped but slightly over the past week, suggesting the labor market may be "leveling off" as the pace of pandemic layoffs reaches a possible "plateau," reports CNBC, per the U.S. Labor Department.
First-time filings for the week ended Nov. 13 totaled 268,000, 1,000 less than a week ago, though slightly higher than the 260,000 estimate. It's now the seventh straight week to see a drop in claims. The total, which was in keeping with the past month, was also "the lowest since the beginning of the pandemic," CNBC explains, though it remains "slightly above the 2019 weekly average of 218,000," per Fox Business.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
Band Aid 40: time to change the tune?In the Spotlight Band Aid's massively popular 1984 hit raised around £8m for famine relief in Ethiopia and the charity has generated over £140m in total
-
Starmer vs the farmers: who will win?Today's Big Question As farmers and rural groups descend on Westminster to protest at tax changes, parallels have been drawn with the miners' strike 40 years ago
-
How secure are royal palaces?The Explainer Royal family's safety is back in the spotlight after the latest security breach at Windsor
-
Boeing machinists approve contract, end strikeSpeed Read The company's largest union approved the new contract offer, ending a seven-week strike
-
US economy still strong in final preelection reportSpeed Read It grew at a solid 2.8% annual rate from July through September
-
Boeing machinists reject deal, continue strikeSpeed Read The rejection came the same day Boeing reported a $6.2 billion quarterly loss
-
Ports reopen after dockworkers halt strikeSpeed Read The 36 ports that closed this week, from Maine to Texas, will start reopening today
-
Empty-nest boomers aren't selling their big homesSpeed Read Most Americans 60 and older do not intend to move, according to a recent survey
-
Brazil accuses Musk of 'disinformation campaign'Speed Read A Brazilian Supreme Court judge has opened an inquiry into Elon Musk and X
-
Disney board fends off Peltz infiltration bidSpeed Read Disney CEO Bob Iger has defeated activist investor Nelson Peltz in a contentious proxy battle
-
Disney and DeSantis reach detenteSpeed Read The Florida governor and Disney settle a yearslong litigation over control of the tourism district
